[Cover Story] SAME SIX BUT DIFFERENT - A new era for Macau's gaming industry was ushered in the New Year with the fresh 10-year concessions kicking in. The six incumbent firms committed MOP108.7 billion to developing non-gaming projects and setting sights on overseas customers. Will it pay off? Operators are confident  |  [Economy] CLAWING BACK - With zero-Covid finally dismantled, businesses are seeing light at the end of the tunnel in a reopened city still coping with mass infections. Yet the rebound is not set to happen overnight  |  [Special Report] Three years of pandemic. What Changed?  |  COP27 - Local NGO rolls out Macau roadmap for carbon footprint reduction  

[Cover Story] COMING TO TERMS - A year on since the demise of the city's junket giants, ex-employees struggle to find new roles in society amid a tough job market. Meanwhile the Suncity and Tak Chun trial s cast light on shady back-room deals, once 'business as usual'  |  [Craft] UNDER THE NOSE - High-profile trial unveils years-long web of interests, alleged kickbacks for land use approvals between former public works chiefs and prominent developers  |  [Hospitality] READYING FOR RECOVERY - Janet McNab succeeded in navigating a challenging pandemic period that included running a quarantine hotel. Now the Multi-Property Vice President at Sheraton Grand Macao and The St. Regis Macao prepares to usher in the long-awaited recovery  |  GAMING - Incumbents secure new concessions, non-gaming takes centre stage  |  [Special Report] Macau as creative city of gastronomy

[Special Report] INSURANCE SUREFOOTED - The insurance industry is thriving despite the pandemic. Macau has become a popular port of call with Mainland visitors shopping for policies, and the local market will only expand alongside opportunities in the Greater Bay Area, industry insiders say  |  [Hospitality] GLASS HALF-FULL - Sofitel Macau's Vinzenz Rosa de Pauli is sanguine about business prospects for the city's hotel industry. The new GM stresses flexibility and adaptability have been yet to overcoming pandemic-induced hurdles  |  [Banking] "We want to grow more in Asia" - Lisbon-based Bison Bank, held by private Chinese capital from Hong Kong, is eyeing opportunities in linking European and Asian markets, says CEO António Henriques, with cryptoasset banking another priority  |  TOURISM - Return of Mainland package tours, e-visas hailed, but no expectation of instant boost  |  Champions - 69th Macau Grand Prix Special

[Interview] SAILING ON - As BNU celebrates its 120th anniversary, CEO Carlos Cid Álvares foresees promising post-pandemic business prospects backed by returning visitors and the new gaming concessions. The future lies next-door, too, in Hengqin, where the bank may open new branches | [Gaming] THE SEVENTH ELEMENT - Malaysia's Genting has thrown its hat into the ring, joining the six incumbent operators in the gaming tender. Will it upend the city's gaming landscape? Insiders hold mixed views | MBtv Debates - Swift reopening, new international talent policy keys to recovery | [Special Report] Chinese millennials

NANSHA CALLING - A new blueprint earmarks Guangzhou's Nansha district as a key zone with incentives for  SAR professionals. A startup incubation hub offers Macau entrepreneurs another route to set foothold in the GBA. Despite COVID uncertainties, the centre is confident in its attractiveness. |. [Interview ] "WE HAVE DEVELOPED OUR OWN WAY OF DEALING WITH COVID" - Hong Kong Exco Convenor Regina Ip says the priority is finding a way to both re-join the world and reopen with the mainland. Once there's a model for quarantine-free travel with Shenzhen, Macau will follow  |  [Gaming] MULTIPOLAR LANDSCAPE IN THE MAKING - Asia's rival casino jurisdictions are reaping back-to-business benefits post-pandemic. Macau can expect heated regional competition in the coming years  |  [Special Report] Housing: A place to call home
 

[Cover Story] UPHILL CLIMB - Recent pandemic restrictions have withered the economy, and though government has turned again to the fiscal well, only healthy flow through the borders can nourish a sustainable recovery. Meanwhile, the city may need new remedies for structural dry spots in the budget, experts says  |  [Gaming] OFF THE FLOOR - The casino concession tender programme requires bidders to submit extensive non-gaming plans. Authorities pledge a level playing field. Will new contenders throw their hats in the ring?  |  [Interview] ENHANCING COOPERATION - Paulo Espírito Santo supports altering criteria for the China-Portuguese speaking countries cooperation and development fund to benefit more firms and weaker economies. The forum Macau deputy secretary-general also seeks stronger sino-lusophone culture ties  |  [Special Report] Hato's "ghost" 5 years on

[Special Report] Gaming in Macau: The new era - - RULES OF THE GAME - The new gaming law is in force, concessions have been extended through year-end, and all eyes now are on the public tender, set to launch amid an unprecedented pandemic-induced crisis. |  [Economy] IT'S THE PANDEMIC - As the city struggles with its grimmest COVID-19 outbreak thus far, life for many businesses hangs by a thread. What lies ahead depends on how much longer pandemic restrictions will last  |  PROSECUTION - Alvin Chau's syndicate accused of causing HK$8.28bln loss in gaming tax revenue

[Cover Story] LABOUR BLUES - Structural unemployment looms large. Social groups and business representatives welcome the new employment incentives rolled out by the government but see no quick fix for the problem | [Technology] LAGGING BEHIND - The only jurisdiction in China yet to embrace 5G, Macau's delay is hindering the city's digital development. With the network ready since June 2021, the soonest licenses may be issued is later this year | [Interview] REBRANDING AND EXPANDING - Following the rebrand of Artyzen Grand Lapa Macau, Artyzen hosipitality group sets sights on a first Hengqin hotel in 2023. Macau area VP Rutger Verschuren also hints at revamp plans for Grand Coloane Resort | KNOCK-ON EFFECT - Gauging the impact of the US interest rate hike cycle | [Special Report] Start-ups in Macau

[Cover Story] MACAUVERSE - It's been as the next big thing. Is the city ready for the metaverse? | [Interview] FAMILY-FRIENDLY - General manager Kevin Benning unveils new attractions and amenities at Studio City's phase 2, where family entertainment and NICE take centre stage | [Crisis] TRADE OFF - Pandemic-induced economic woes fuel parallel trade, with increasing numbers attempting to exploit cross-border price differentials amid a crackdown | MB.TV DEBATES - Firms, NGOs raise stakes on corporate social responsibility | [Special Report] China-Portugal investment: All changed 10 years ago

[Cover Story] BRAIN DRAIN - Stringent pandemic travel restrictions and the economic crisis are leading many foreign skilled professionals to leave Macau, raising concerns over the city's competitiveness  |  [Hengqin] PAVING THE WAY - Proposed incentives promoting Hengqin to local job-seekers are welcome, while additional perks like vocational training and a thriving business scene might draw more youngsters into the zone  |  WELLNESS - New islands hospital set to jump-start medical tourism development  |  [Special Report] Macau's branding challenge

[Cover Story] GREATER WEALTH AREA - The Wealth Management Connect pilot scheme is gaining steam, with Guangdong and SAR residents now able to invest across the border using the two-way fund conduit. While the Mainland’s RMB-denominated products have immediate appeal, local banks angling for GBA clients need to up their game  |. [Gaming] RESTRUCTURE - Will satellite casinos weather winds of change in the gaming law? At stake the fate of 18 venues and 10 thousand employees. | [Business] E-THRIVING - Macau’s Live Stream Station helps local merchants tap into Mainland China’s RMB3.1 trillion live streaming e-commerce market. |  LAND BUREAU graft blamed on red tape, lax supervision

[Cover Story] WILL IT COME ROARING BACK? - Macau greets the year of tiger hoping the economy can lean into covidian headwinds and claw its way back. Challenges also include local employment and SME woes and the risk of a global rate-hike cycle | [Gaming] TAKING SHAPE - The new gaming bill sets the stage for a new regulatory environment. Concessionaires welcome the draft, while junkets and satellite casino operators see their future hang in the balance | [Finance] MUTUAL TRUST - Experts call the city's first trust legislation a key development, as the modernization of the SAR's financial services gains steam. Still, the bill needs fine-tuning | [Special Report] Migrants in Macau: The other side

[Cover Story] CHIPS DOWN - For the city's gaming industry, it's the end of an era. The Sanctity incident and the closure of most VIP rooms in local casinos dealt the junket sector a huge blow. Surviving gaming promoters look for a post-pandemic lifeline beyond the Mainland market  |  [Technology] CHIPPING IN - Top-notch microelectronics expertise in the SAR pays off, as a local high-tech firm assists China with microchip production  |  [Business] HENGQIN CALLING - With Macau's pioneers on the neighboring island beginning to see results, new measures to lure investment are expected in the pipeline  |  SMART TOURISM - Trip.com CEO calls for fresh approach to mainland millennials  |. [Special Report] Traditional Chinese medicine breathing a new life

[Interview] BONDING TOGETHER - Chongwa (Macao) Financial Asset Exchange Co. Ltd (MOX) is leading a rapid expansion of the SAR’s bond issuance and listing market. Executive Director and Vice President Tenny Ruan shares her vision for forging strong ties with national and overseas partners, while making the most of Hengqin  |  [Gaming] SHOCKWAVES   - Industry jolted by Alvin Chau detention and final Dore verdict, dealing a blow to an already ailing junket sector  |  [Investment] Guangzhou Pharmaceutical to roll out Made-in-Macau TCM products  |   [Property] LAND ALLURE - Government turns to land auctions amid revenue woes, more than a decade since its last tender

The SAR’s revenue structure faces a litmus test amid the pandemic. With year-to-date gaming revenue way below  the government’s forecast, the city’s rainy-day fund comes to the rescue again. The MOP600+ billion fiscal reserve provides a vital buffer, but resorting to it is more a quick fix than a long-term cure

[Cover Story] D-DAY -  Destination 2035. The Master Plan for Hengqin heralds a definite push for economic diversification in Macau under a new cooperation model with Guangdong. The diversification directive is also woven throughout the consultation paper on the gaming law, which weighs in heavily with tighter rules and supervision over operators and junkets   |  [Economy] PANDEMIC LOOP -  The late-September wave of COVID-19 cases stalled an already weak economic recovery. Residents and businesses call for a new round of financial support  |  POLITICS – Newly elected lawmakers to tackle pandemic, livelihood woes  |  [Special Report] China at the WTO 


[Special Report] GREENER PASTURES - From energy efficiency to waste management and carbon emissions, Macau is lagging behind. The case for rolling up sleeves has never been stronger, and some of the world’s best practices are right next door in Mainland China  |  [Economy] BUMPY ROAD - The recovery derailed 
by recent Covid-19 cases may soon be back on track. As businesses struggle to live with the pandemic, all eyes are on October Golden Week  |  [Finance] STRONGER BONDS - The city’s nascent bond market takes shape, with MOX leading the way. The next level will require improved legal infrastructure 

[Cover Story] DOUBLE-EDGED SWORD - Over a decade after the last round, new land auctions are not in the cards for now, despite calls from realtors, developers and bankers. Land premiums could be an alternative source of public revenue, and private housing supply would be given a boost. But concerns linger over unhealthy price hikes  |  [Finance] NEW BANK ON THE BLOCK - Haitong Bank secures Macau license, aiming to leverage Brazil–Portugal–China business triangle  |  [Gaming] LAST BUT NOT LEAST - SJM’s first integrated resort on Cotai finally opens. Grand Lisboa Palace looks to be a game changer | [Special Report] Casino Tourism - The pros and cons | Conundrum - How to turn around one of the world’s lowest fertility rates?  

[Interview] GREATER PLANS - Well Link Bank is going all on financial innovation and artificial intelligence for an edge in the highly competitive local market. CEO Chong Sio Fai talks next steps: opening branches in the Greater Bay Area and capitalising on the Lusophone connection  |  [Investment] Gold and silver emerge as recession-proof store of value amid pandemic woes  |  [Economy] Vaccination rollout in Macau beginning to hit its stride with a long way to go before restrictions on international travel can truly be relaxed  |  LRT - Solutions floated for problematic 'white elephant'  |  [Special Report] A patient hospital

CASHING IN - The retail sector is bouncing back, with luxury sales riding a wave of "revenge shopping". Yet operators' optimism remains cautious amid pandemic uncertainties  |  SHOPPING SPREE - Hainan's duty-free is booming, bringing both opportunities and challenges to Macau  |  RAISING GREEN FUNDS - UN Resident Coordinator in China Siddharth Chatterjee sees Macau as a potential green bond hub for financing the 2030 Sustainable Development Goals  |   BEER YOURSELF - The city's first craft brewery offers an emerging niche market new flavours  |  PROPERTY - Trend towards smaller units could take toll on families and livelihoods  |  [Special Report] Gaming - The road to June 26, 2022

[Property] CLAWING BACK - It’s an uphill climb. The worst is over for the city’s real estate market, but a bounce back is only due in 2022 as many would-be buyers wait and see  |  [Gaming] UNCHARTERED WATERS - 2021 has brought little respite for junkets. Still amid a slow-paced recovery, operators struggle to come to terms with Mainland China’s new criminal law on cross-border gambling promotion  |  LABOUR PAINS – Call for new measures as jobless rate is set to further expand  |  [Special Report] 17 Talented young people

[Special Report] FINANCIAL HUB IN THE MAKING - Wishful thinking of the definite driver of diversification? Securities market, wealth management, bond market, cooperation with Hengqin, Fintech, these are the watchwords. Steps are being taken towards elevating the city's financial industry to a whole new level  |  [Employment] GREATER STAY AREA - Youngsters eye career opportunities in Guangdong over a lacklustre local job market  |  [Health] MIND MATTERS - Mental health must be taken seriously. Experts warn the pandemic's toll should not be overlooked  |  NO PLAN'S LAND - Government mum on usage for dozens of idle plots

[Interview] NEW HEIGHTS - As the University of Macau celebrates its 40th Anniversary, Rector Yonghua Song looks to take it to the next level: To be among the world's top 200 universities and play a crucial role in technology transfer and spin-offs  |  [Construction] LEVELLING THE PLAYING FIELD - Local contractors vie for a slice of the pie as mainland counterparts take lion's share of big infrastructure projects  |  LOOMING LARGE - Underemployment casts shadow over job market  |  [Special Report] 40 years of (modern) tertiary education | 

[Cover Story] STAYING ALIVE - Live-streaming e-commerce is the new trend. Local companies are finding multiple ways to reach across the border and sell to mainland consumers amid the pandemic  |  [Transformational] THE LEGACY OF SHELDON ADELSON - The US gaming mogul was first to break ground on Cotai and introduced the integrated model, transforming the city's tourism and casino industries beyond recognition  |  [Special Report] One city, four 'languages'

WHAT'S IN STOCK? - A Macau stock exchange in Hengqin is being considered in a bid for economic diversification and regional integration. The potential game changer invites a debate on the legal framework, human resources and competitive edge  |  [Tribute] OTHERS BEFORE SELF - Remembering Juliana Devoy's inspiring legacy  |  [Property] IN GOOD SHAPE - Housing market set to remain stable and recover in 2021  |  GOVERNMENT: Public assets watchdogs "slow" to yield results  |  [Special Report] The COVID-19 year

[Cover Story] China's 'Dual Circulation' economics gaming steam, but Macau risks lagging behind. Additional relief measures now critical for SMEs, and looking ahead, the city must get financial innovation right. A return to business as usual is not in the cards  |  BREATHING NEW LIFE - Guangdong-owned Nam Yue Group acquires idle plot to develop science and technology park  |  LABOUR - Swift action needed as youth unemployment jumps |  [Special Report ] Ho Iat Seng  Year 1

[Cover Story] SAVING THE DAY - That rainy day is here. The city's buoyant fiscal reserves cushion against a hard landing but pressure on the government will mount in 2021. SMEs and livelihoods feel the squeeze. The multibillion-dollar question: Hoe much can the casinos rake in next year? MOP130 billion authorities predict  |  [Interview] THE FORUM AND BEYOND - Outgoing forum Macao Deputy Secretary-General Rodrigo Brum highlights achievements but points to the need to boost outreach efforts. Hengqin and Greater Bay Area the way forward  |  HOUSING LADDER - Will a renewed approach to 'sandwich class' yield results?  |  [Special Report] Getting in and out

[Cover Story] YUAN WORLD ONE DREAM - China's digital renminbi revolution is in the pipeline. Macau's financial services are set to thrive alongside regional integration and economic diversification. For casinos it might be a bitter pill to swallow  |  [Demography] Population density not likely to be eased. In addition to land, experts call for concrete policies to prevent slide in quality of life  |  [Property] Mutation - Government plans turning Areia Preta's industrial zone into commercial district. No easy feat.  |  URBAN MASTER PLAN - Long-awaited blueprint met with mixed views  |  [Special Report] The Chinese gambler

[Cover Story] SHUFFLE UP AND DEAL - Government reluctant to show its hand as the clock ticks on the gaming law revision and public tender. An overhaul of the sub-concessions model is in the cards alongside new strings attached binding operators to social responsibility, diversification and regional integration  |  [Tourism] EYEING SMART TRAVELLERS - New Holiday Inn Express to open downtown, banking on returning mainland visitors  |  [Business] FACING DEMAND - Made-in-Macau medical masks gather steam riding COVID-19-induced business opportunities  |  CASINO-RESORTS - New properties wait in the wings for rosier times  |  [Special Report] Understanding Hong Kong A to Z

[Interview] SILVER LINING - After Guangdong, Macau looks to Fujian and Hunan for gradual resumption of mainland visitors. Tourism chief Helena de Senna Fernandes says the COVID-19 crisis prompts a rethink of the industry as a whole. The city braces for a protracted recovery  |  [Property] UNSCATHED ISLAND - Hengqin market rises above pandemic woes  |  [Politics] FEELING THE HEAT - Government urged to trim MOP800 million annual bill in private rentals amid a blanket 10 per cent current expenditure cut. Meanwhile a number of public properties sit idle  |  GAMBLED AWAY - Gloomy outlook for junkets in the short term  |  [Special Report] 20 (+20) Influential women

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Macau Business, a 132-page monthly publication, is Macau’s number one English-language newsmagazine. Benefiting from the acumen of and collaboration between journalists, analysts, economists, scholars and policymakers, we work to provide our readers with the best stories and exclusive insights.
Macau Business was launched in May 2004 and was the first independent English-language news medium to become firmly established in Macau.

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Macau Business - January 2023

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